a good hard kick in the ass
DESCRIPTION
Basic training for entrepreneursTRANSCRIPT
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A Good Hard Kick In The Ass
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What is it all about?
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Its Basic Training forENTREPRENEURS
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There’s only 1 key to success in a startup.
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Hardwork &
Adherence to
Fundamentals
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What are the milestones in getting your product
to the market?
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Step 1Validate that the market
actually exists
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Learn everything about the customer.
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Explore the pain point of the customer.
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Develop something people will pay for...
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Identify Competitors...
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Determine the size of the target market.
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Emerge a beta community
of enthusiastic users.
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Step 2Design a profitablebusiness model..
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Pure & Simple:A business exists to make money.
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You should have a logical & straightforward way to do business..
If you don’t then don’t even bother starting a new company.
Work for someone else who does.
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Step 3Assemble & Hire a great
team.
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What will a great team have?
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Deep reserves of Execution Intelligence..
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Hands on domain knowledge..
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Experience in dealing with competition..
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Risk Management Expertise
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Leadership Persona
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Step 4Lineup some Investors
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What will investors want to know?
1. Level of Execution Intelligence
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What will investors want to know?
2. Validation of market for product or service..
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What will investors want to know?
3. How much time to market is going to be?
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What will investors want to know?
4. How much money required to reach the key value milestones.
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Step 5Make & Sell the Product
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Go the market fast with whatever you have
right now.
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Keep enhancing the product with successive improved versions.
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Take feedbackImprove product features..
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Acquire customers by:Direct Marketing, Tele Marketing &
Trade Shows
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Own the sales process..
Actual sales are the key to growing the money and
expanding it.
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What wouldthe Startup be without sales?
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The startup would only be a R&D company.
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It would generate ideas.
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It would never move forward.
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What after success?
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1. Make sure every new hire adds value.
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2. Reward people who add most value.
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3. Continue to do market validation
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4. Align everyone in the company around a common vision.
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5. Stick to what your organization is best at.
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6. Keep next-gen R&D alive...
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7. Maintain direct contact with the customer.
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8. Iterate & improve products over time.
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9. Create value in every step.
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Thank You..
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